Cardano is hot new topic on the cryptocurrencies market. It is very similar to Ethereum because it is allowing smart contracts for its users where they can develop decentralized applications. The only difference between Cardano and Ethereum is that Cardano is first blockchain built on Haskell code. Cardano have its own algorithm called Ouroboros and developers of Cardano are saying that this kind of protocol is proven to be totally secure. The blockchain platform has a multilevel control mechanism that includes settlement layer for the cryptocurrency called ADA and control layer for smart contracts.The Team behind Cardano
The team behind this cryptocurrency is not just the group of talented people, but it is entire community considering three organization. Cardano foundation, based in Switzerland, serves as a supervisory and educational body, with the main purpose to standardize, protect and promote Cardano technology. IOHK is a technology company founded in 2015, the goal of this company is directly related to the technological development of the Cardano platform. One of the founder of this company was co founder of Ethereum before it was launched. Emurgo is the company located on the Isle of Man, with the main idea for development of decentralized application based of Cardano.ADA - the token of Cardano
ADA is Cardano\'s token and it is currently placed into the first 5 cryptocurrencies with the impressive evolution. When it comes to mining ADA, it is based on Proof of Stake algorithm which means that block reward is randomly accrued among coin holders and the users that have more coins in the account enjoy higher chances of getting a reward. When it comes to the security question, Cardano is being compared to the Bitcoin because the latter has never been hacked. Cardano also had its own ADA wallet called Daedalus, which is pretty secured wallet.General Predictions for ADA
Many people are predicting the rise of this cryptocurrencies and placing it into the top 3 largest cryptocurrencies. The project is now just at intermediate stage of development, so the very big boom of this cryptocurrencies is behind the corner.